Pranda Jewelry Public Company Limited or Pranda Group enhanced customers experience in own brand jewelry retail or Omnichannel Distribution, under PRIMA brand in Thailand, Vietnam and PRIMA Art in India, including Gemondo brand in United Kingdom are ready for salesforce accelerated growth in 2023.
Mr. Chanat Sorakraikitikul, Chairman of Finance & Risk Management Committee of Pranda Jewelry Public Company Limited reveals throughout the year 2023, Pranda Group is still following the Omnichannel strategic plans to create the brand experience for customers. We believe that Brand Repositioning strategic plan, online platform development, marketplace and owned channel will increase sales revenue and expands customers base. This bring the growth of Omnichannel Distribution and reached out to customers.
PRIMA Thailand Expands Growth Into Young Segment.
This 2023, PRIMA Thailand set the growth target at 30% by inniating the growth plan in Young Generation segment with new design products that are suitable for all ages and occasions, including maintain existing customers base with high purchasing power via Customer Relationship Management (CRM Program) and develop the customer accessibility via marketplace, owned channel. Therefore, the first quarter of year 2023, PRIMA Thailand increased sales revenue via online market by 20%, meanwhile offline decreased by 1%, compared to the same period of previous year. However, the sales overview in Thailand had slightly decreased, but the sales revenue of Prima Prestige customer group increased by 18% in Q1/2023, and expected this 2023, will be able to close the sales in Prima Prestige customers group higher than target by reinforcing brand experience via medias and activities continuously.
PRIMA Vietnam Has Revealed To Brand Repositioning, Strengthening PRIMA ART
The property crisis that occurred in Vietnam has affected on other businesses in capital market. The crisis caused high financial cost, affected on repayment and high purchasing customers whom are mainly target of PRIMA brand also slow down their expenditures.
Thus, feedback of PRIMA brand in Vietnam, especially PRIMA ART 99.9% gold sheet artwork became successful and received positive feedback response from Vietnamese customers who bought them as home decorations, which were regarded as precious artworks. This brought to the Brand Repositioning strategy in order to determine the position of products obviously by placing PRIMA, known as Fine Jewelry via shop in Luxury Department Store and diversified PRIMA ART on sale via Stand Alone stores and home decor stores to highlight PRIMA ART strength become more outstanding. These factors were principle parts of sales promotion for the growth of PRIMA ART, and expected that the sales revenue in Vietnam will return.
PRIMA ART Sales Revenue in India Market Increases, Expansion To Young Generation Segment.
PRIMA India is continuously growing, PRIMA ART plays role as principal products which has been dominated the market for more than 10 years. This 2023, the company emphasizes the growth via Key Account, the main shop distributes jewelry and home decoration. This represents as PRIMA ART Gallery to make brand become remarkable, and starting strategic plan for marketing expansion by releasing Spiritual Collection in order to meet the needs of Younger Generation, and focus on E-Commerce marketing, build Brand Awareness, and increase production capacity to support the growth. Thus, at the first 4 months of 2023, the sales revenue increased by 47%, compared to the same period of previous year.
Gemondo U.K. Optimize And Engage With Current Sales Channel To Increase Sales Potential
GEMONDO U.K. has set the strategy on the existing selling point, and increased the growth of sales revenue via e-commerce and marketplace, also developed products for new market segments continuously and improve marketing effectiveness. At the first half of this year, GEMONDO has sales revenue slightly decreased, compared to the same period of previous year. However, it is expected to grow since the previous year from better signs after the strategic plan operation.